1116 LAWS OF MARYLAND [CH. 545.

343. The charter may provide that shares of stock of any
class shall he convertible into shares of stock of any other
class upon such terms and conditions as may be therein stated,
except that shares of stock without par value shall not be
convertible into shares of stock having a par value. For the
purpose of the bonus tax imposed by the laws of this State,
the authoi'ixed amount of stock of any class which by the
terms of such charter is convertible into stock of another
class shall be taken to be either The amount of such stock
authorized by such charter or the aggregate amount of the
stock into which such slock is convertible, whichever is the
greater.

33. ( 1 ) Nothing in Sections 35 to 36, inclusive, of this
Article shall be taken or construed as limiting or affecting
the liability of stockholders in banking, safe deposit, trust
and loan corporations.

(2) The term "consideration other than money" as used
in said Sections includes a consideration partly in money.

(3) The term "convertible securities" as used in said
sections shall be taken to mean obligations of a corporation
convertible into shares of its stock.

(4) The authorization of the issuance of stock of any
class which by the terms of the charter is convertible into
stock of another class shall constitute the authorization of
the issuance, in accordance with the terms of the charter, of
the stock into which such stock is convertible.

(5) The authorization of the issuance of convertible securi-
ties shall constitute the authorization of the issuance, in
accordance with the terms of such convertible securities, of
the stock into which they are convertible, if and when such
stock shall have been authorized by the charter.

(6) Nothing in this Article shall authorize the issuance
of stock or convertible securities for personal services to be
rendered in the future.

(7) No corporation of this State shall issue shares of its
stock or convertible securities except pursuant to authoriza-
tion of the issuance thereof given in the manner provided in
Section 35A, Section 35B, Section 35C or Section 35D of this
Article, which said sections shall be construed to be inde-
pendent and separate provisions, and in no case shall compli-
ance with the terms of more than one of said sections be